Indian stock markets reached new record highs on Monday, driven by a surge in financial and energy stocks following favorable state election results. The NSE Nifty 50 index rose by 1.65%, reaching a new high of 20,602.50 points for the second consecutive session. The S&P BSE Sensex also climbed by 1.64% to an all-time high of 68,587.82.

Financial services saw a 1.8% increase, while energy stocks rose by 2%, leading sectoral gains. Index heavyweights such as Reliance Industries, ICICI Bank, and HDFC Bank gained between 1% and 3%. Small- and mid-cap stocks also surged by about 1%, setting new all-time highs.

The ruling Bharatiya Janata Party (BJP) secured significant victories in three out of four state assembly elections over the weekend, contributing to increased market confidence. Analysts at PhillipCapital noted that the election outcome is likely to bolster confidence in the continuity of the BJP government at the center, further driving market gains.

Indian stock markets reached new record highs on Monday, driven by a surge in financial and energy stocks following favorable state election results. The NSE Nifty 50 index rose by 1.65%, reaching a new high of 20,602.50 points for the second consecutive session. The S&P BSE Sensex also climbed by 1.64% to an all-time high of 68,587.82.

Financial services saw a 1.8% increase, while energy stocks rose by 2%, leading sectoral gains. Index heavyweights such as Reliance Industries, ICICI Bank, and HDFC Bank gained between 1% and 3%. Small- and mid-cap stocks also surged by about 1%, setting new all-time highs.

The ruling Bharatiya Janata Party (BJP) secured significant victories in three out of four state assembly elections over the weekend, contributing to increased market confidence. Analysts at PhillipCapital noted that the election outcome is likely to bolster confidence in the continuity of the BJP government at the center, further driving market gains.